Icon ICXBTC forming at least 3 descending wedges (red, green yellow) and a bullish flag at shorter timeframes (white, zoom in to check it out). Yellow wedge seems already broken. Smells like larger breakout. Targets approximated. I just opened a long position with a stop loss below the red wedge.
BTC: Ascending triangle
- 10k line acting as resistance
- (1-0.236) ascending Fibonacci fan line acting as support. This fan line originates from the Feb 6th low.
- Increasing volume
We might see a 10k level breakout (and maybe retest) within the next few hours.
Right shoulder formed very fast, maybe after Draghi's remarks on Bitcoin. Neckline broken, target 0.3x-0.5x head length upwards (>9500 USD - crypto's breakout from HS are somewhat shorter than the 1x length).
Nice hammer forming on the daily. If bullish reversal is confirmed: Target >18627 by May 2nd.
This is based on the median duration of 85 bars for each leg, and slope of 150 (inferred from previous legs: 2.88, 3.57, 3.98, 14.99, 42.66, 84.53).